Fed rate hike may lead to a 'vicious cycle': IMF chief
Washington
THE International Monetary Fund voiced concern on Wednesday about the global economy, weakened by China's slowdown and facing a potential "vicious cycle" from a looming US interest rate hike.
"On the economic front, there is... reason to be concerned. The prospect of rising interest rates in the United States and China's slowdown are contributing to uncertainty and higher market volatility," IMF managing director Christine Lagarde said in a speech in Washington, according to the prepared text.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall